Question
On 1 April 2021 Joyce acquired two contracts in SPI200 futures in which she took a buy position. Contract unit is the value of the
-
On 1 April 2021 Joyce acquired two contracts in SPI200 futures in which she took a buy position. Contract unit is the value of the SPI200 index, multiplied by $25. The SPI200 index was 5500 on 1 April 2021. On 15 June 2021 she decided to close out her futures contracts, when the SPI200 index was 5050. What is the amount of gain or loss on the futures contracts?
A. $22,500 gain
B. $11,250 gain
C. $22,500 loss
D. $11,250 loss
On 1 April 2021 Joyce acquired two contracts in SPI200 futures in which she took a buy position. Contract unit is the value of the SPI200 index, multiplied by $25. The SPI200 index was 5500 on 1 April 2021. On 15 June 2021 she decided to close out her futures contracts, when the SPI200 index was 5050. What is the amount of gain or loss on the futures contracts?
| A. | $22,500 gain | |
| B. | $11,250 gain | |
| C. | $22,500 loss | |
| D. | $11,250 loss |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Corporate Environmental Reporting The Western Approach To Nature
Authors: Leanne J Morrison
1st Edition
0367785455, 9780367785451
